STEP BY STEP

SECURING EISP TAX CREDITS

1. Reserve tax credits

2. Make a donation

3. Receive a tax credit certificate

www.graspeisp.o rg

10 minutes

You will need: social security number

address

donation amount

Complete a Preauthorization Form. To obtain this form, go to

http://www.graspeisp.org/donate/ or, go to the Virginia Department of Education website

or, use this link: http://www.doe.virginia.gov/school_finance/scholarships_tax_credits/

preauthorization_form.docx This form is also available at www.graspeisp.org.

When completing the Preauthorization Form, for marketable securities, it may be

advantageous to increase the donation value and tax credit amounts a bit to allow for any

overage resulting from a stock sale. No single donor can exceed $125,000 in donations, but

businesses are unlimited

Mail the completed Preauthorization Form to GRASP (4551 Cox Rd, Suite 115, Richmond,

VA 23060) or email it to Millie Manley, mmanley@grasp4virginia.com. GRASP will

submit your Preauthorization Form to the Virginia Department of Education (DOE) via a

secure electronic dropbox.

Wait: Do not sell any securities or write a check yet

1– Reserve Tax Credits

Use this form to request preauthorization for a specified tax credit amount under the Education Improvement Scholarships Tax Credits Program, authorized

by Section 58.1-439.25 et seq., Code of Virginia. If the Preauthorization Form is approved by the Department of Education, you will receive, via U.S. Mail, a

Preauthorization Notice. The Preauthorization Notice must be completed by the donor and submitted, along with the monetary or marketable securities

donation, to an approved scholarship foundation within 180 days from the date of the Preauthorization Notice. Any preauthorized amounts not acted upon

before the expiration of the 180 days will become void. If all preauthorized tax credits are used or become void, you must file another Preauthorization

Form with the Department in order to be preauthorized for additional tax credits. For additional information, please refer to the instructions on page 2 of this

form.

Part I – Preauthorization Request (To be completed by the donor.)

Part II – Tax Credit Calculation (To be completed by the donor.)

Part III – Declaration (To be completed by the donor.)

I declare that this form is, to the best of my knowledge and belief, a true, correct and complete application, and that I have made myself aware of the

requirements for this tax credit as prescribed by the Virginia Department of Education. I understand that this information will be shared with the Department

of Taxation for purposes of administering the Education Improvement Scholarships Tax Credits Program, and that failure to provide this information may

limit my ability to claim the tax credit.

If a scholarship foundation is filing the Preauthorization Form on behalf of the donor, then it must submit the form using the Department’s secure Web-

based system provided on the Department’s Web site. Otherwise, the donor or authorized representative must submit the form via U.S. Mail to: Virginia

Preauthorization

Form

Virginia Department of Education

Education Improvement Scholarships Tax Credits Program

(Keep this Preauthorization Form for your records.)

1. Select the entity type (Check One): Individual Sole Proprietor S Corporation C Corporation Partnership

Limited Liability Company (LLC) Other _______________ COMPLETE

2. Donor’s Tax ID# (SSN or FEIN if a business): COMPLETE

3. Donor’s Name: COMPLETE

4. If the donor is a business, provide a Contact Name:

5. Mailing Address: COMPLETE

6. City, Town or Post Office: COMPLETE

7. State: COMPLETE

8. ZIP Code: COMPLETE

9. Phone Number: COMPLETE

10. Name of County or City in which you reside or in which the business is located: COMPLETE

a. Enter the total amount of all donations to be made and submitted for tax credits within 180 days of the Preauthorization

Notice date.

(For individuals, the minimum donation for issuance of tax credits is $500 in a taxable year, and the maximum aggregate donations for

issuance of tax credits are $125,000 in a taxable year. There are no limitations for businesses. An individual that has already been

issued tax credits for donations of $500 or more to a scholarship foundation can be issued tax credits for additional donations to the

COMPLETE

b. Enter the total amount of tax credits being requested.(Multiply the total of all donations above by 65% (.65), unless subject to

limitation above.) COMPLETE

c. If you are an individual, have you been approved for Education Improvement Scholarships Tax Credits in the current

calendar year? If so, please enter the total amount of tax credits the Department approved. COMPLETE

COMPLETE COMPLETE COMPLETE

Printed Name Signature Date

SAMPLE

2– Send Preauthorization to GRASP 10 minutes

You will need: Preauthorization Notice

Record of Stock Sales or

Check Amount

Donating Securities? Donating by Check? Once you receive the Preauthorization Notice from the Department

of Education, you or your broker may submit your donation

through the Davenport & Company GRASP account.

In the case of Preauthorization Notices for multiple donors

(husband/wife, family members, trusts, etc.), please instruct the

broker to treat each donor separately as the Virginia Department

of Education will not split a stock sales between donors.

Davenport & Company’s Depository Trust Company (DTC)

number is 0715. GRASP's Account number: 51551908. Please ask

your broker to give Davenport your full name so that we may

acknowledge your gift promptly.

GRASP cannot act on your brokerage statement alone but must

also have your Preauthorization Notice to proceed. Complete

Part 1 of the Preauthorization Notice, circled in the sample to the

right. Mail the completed Preauthorization Notice to GRASP (4551

Cox Rd, Suite 115, Richmond, VA 23060) or email it to Millie

Manley, mmanley@grasp4virginia.com. Please send that signed

Preauthorization Notice to GRASP at the time you request the

securities transfer from your broker. (GRASP doesn’t receive a

copy of this notice from the Department of Education.)

Once you receive the

Preauthorization Notice from the

Department of Education, then you

may write a check to GRASP.

Date the check after the date of

the Notice, write it payable to

GRASP with the memo EISP

Scholarships.

Send the check along with the

signed Preauthorization

Notice to GRASP.

Send this signed Preauthorization Notice to GRASP

immediately so that we may secure your tax credits.

There is a narrow 20-day time limit from the date

of donation to secure the credits.

The date of the approval will be here. Your donation must be made within 180 days of this date.

A signature from a Department of Education Staff Person will be here

Your Name and Address will be

prefilled here Your preauthorization notice will be assigned a

unique number

complete if

applicable

Complete Complete

Complete Complete

Complete

complete if applicable

Within 20 days of the date of your check or the sale date for stock, GRASP will:

1. Send to you acknowledgement of the receipt of your gift

2. Send the Department of Education (DOE), via secure electronic dropbox, your Preauthorization

Notice, signed by both you and GRASP, to indicate that your gift has been received.

Within 30 days of receiving your Preauthorization Notice from GRASP, the DOE will issue your

Tax Credit Certificate.

For more information on how you can provide private school educational opportunities to

disadvantaged, deserving K-12 students, please contact: Millie Manley, EISP Tax

Credits, mmanley@grasp4virginia.com.

G RA SP EI SP 4551 Cox Road, Suite 115

Glen Allen, VA 23060

Phone: 804.527.7726

Fax: 804.527.7750

Tax ID# 52-1277427

If you have questions or need help with the

paperwork, just let us know.

3– Receive Tax Credits

NOTES

GRASP is not qualified to offer personal or business tax advice. Please consult a tax professional

if you have questions regarding tax implications from making a donation to this Scholarship

program.

G RA SP EI SP 4551 Cox Road, Suite 115, Glen Allen, VA 23060 Phone: 804.527.7726 Fax: 804.527.7750 Tax ID# 52-1277427 www.graspeisp.org